A Business at a Glance
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BANC OF CALIFORNIA, INC.
BANC
$3.4B
Mkt Cap
$21.28
-0.47%
BANC OF CALIFORNIA, INC. (BANC) has a current P/E ratio of 18.2, compared to its historical median P/E of 19.0. The stock is currently considered Fair based on its historical valuation range.
BANC OF CALIFORNIA, INC. (BANC) has a 5-year average return on invested capital (ROIC) of -0.7%. This is below average and may indicate limited pricing power.
BANC OF CALIFORNIA, INC. (BANC) has a market capitalization of $3.4B. It is classified as a mid-cap stock.
Yes, BANC OF CALIFORNIA, INC. (BANC) pays a dividend with a trailing twelve-month yield of 1.88%.
Based on historical P/E analysis, BANC OF CALIFORNIA, INC. (BANC) appears fair. The current P/E of 18.2 is 4% below its historical median of 19.0. The estimated fair value CAGR (P/E method) is 51.9%.
BANC OF CALIFORNIA, INC. (BANC) operates in the National Commercial Banks industry, within the Financials sector.
BANC OF CALIFORNIA, INC. (BANC) reported annual revenue of $1.8 billion in its most recent fiscal year, based on SEC EDGAR filings.
Banc of California, Inc., a Maryland corporation, was incorporated in March 2002 and serves as the holding company for its wholly owned subsidiary, Banc of California (the “Bank”), a California state-chartered bank and a member of the FRB. When we refer to the “parent” or the “holding company,” we are referring to Banc of California, Inc., the parent company, on a stand-alone basis. When we refer to “we,” “us,” “our,” or the “Company,” we are referring to Banc of California, Inc. and its consolidated subsidiaries including the Bank, collectively. As a bank holding company, the holding company is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the FRB. As a California state-chartered bank that is a member of the FRB, the Bank is subject to ongoing and comprehensive supervision, regulation, examination, and enforcement by the DFPI and the FRB. On November 30, 2023, Banc of California, Inc.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 1.8B | 1.8B | 1.9B | 1.5B | 1.6B | 1.4B |
| Net Income | 189M | 189M | 87M | -1.9B | 404M | 607M |
| EPS | $1.17 | $1.17 | $0.52 | $-5.68 | $1.29 | $1.94 |
| Free Cash Flow | 235M | 235M | 64M | 121M | 682M | 486M |
| ROIC | 3.4% | 3.6% | 1.6% | -32.3% | 8.3% | 15.4% |
| Gross Margin | 61.5% | 61.5% | 53.1% | 12.2% | 83.4% | 84.0% |
| Debt/Equity | 0.58 | 0.58 | 0.40 | 0.86 | 0.45 | 0.07 |
| Dividends/Share | $0.00 | $0.40 | $0.40 | $0.13 | $0.38 | $0.38 |
| Operating Income | 27M | 27M | 25M | -2.2B | 568M | 822M |
| Operating Margin | 1.5% | 1.5% | 1.3% | -145.2% | 34.8% | 60.8% |
| ROE | 5.3% | 5.4% | 2.5% | -52.8% | 10.2% | 16.0% |
| Shares Outstanding | 162M | 162M | 168M | 342M | 315M | 313M |
| Metric | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | |||||||||||||
| Revenue | 334M | 330M | 468M | 434M | 447M | 403M | 309M | 1.4B | 1.6B | 1.5B | 1.9B | 1.8B | 1.8B |
| Gross Margin | 86.9% | 84.8% | 86.2% | 77.3% | 62.6% | 55.5% | 69.1% | 84.0% | 83.4% | 12.2% | 53.1% | 61.5% | 61.5% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | 163M | 115M | 146M | 129M | 110M | 106M | 97M | 368M | 407M | 332M | 341M | 350M | 350M |
| EBIT | 26M | 6.1M | 19M | 8.1M | 9.8M | 28M | 8.1M | 822M | 568M | -2.2B | 25M | 27M | 27M |
| Op. Margin | 7.9% | 1.9% | 4.0% | 1.9% | 2.2% | 6.9% | 2.6% | 60.8% | 34.8% | -145.2% | 1.3% | 1.5% | 1.5% |
| Net Income | 27M | 50M | 92M | 36M | 23M | 24M | 13M | 607M | 404M | -1.9B | 87M | 189M | 189M |
| Net Margin | 8.0% | 15.2% | 19.7% | 8.3% | 5.1% | 5.9% | 4.1% | 44.9% | 24.8% | -127.3% | 4.6% | 10.4% | 10.4% |
| Non-Recurring | 0 | 9.9M | 0 | 5.3M | 6.2M | 4.2M | -188K | -74K | 29M | 1.4B | -647K | -199K | -199K |
| Returns on Capital | |||||||||||||
| ROIC | 5.3% | 7.0% | 10.1% | 3.3% | 2.1% | 2.2% | 0.5% | 15.4% | 8.3% | -32.3% | 1.6% | 3.6% | 3.4% |
| ROE | 6.4% | 8.7% | 11.3% | 3.6% | 2.3% | 2.6% | 0.6% | 16.0% | 10.2% | -52.8% | 2.5% | 5.4% | 5.3% |
| ROA | 0.6% | 0.7% | 1.0% | 0.3% | 0.2% | 0.3% | 0.2% | 7.0% | 1.6% | -4.9% | 0.2% | 0.6% | 0.5% |
| Cash Flow | |||||||||||||
| Op. Cash Flow | 628M | -43M | 18M | 563M | 123M | 80M | 75M | 503M | 702M | 136M | 77M | 256M | 256M |
| Free Cash Flow | 616M | -126M | -27M | 548M | 114M | 70M | 70M | 486M | 682M | 121M | 64M | 235M | 235M |
| Owner Earnings | 604M | -78M | -10M | 538M | 106M | 59M | 53M | 478M | 680M | 108M | 25M | 207M | 207M |
| CapEx | 12M | 83M | 45M | 15M | 9.0M | 10M | 5.1M | 17M | 20M | 15M | 13M | 21M | 21M |
| Maint. CapEx | 17M | 26M | 17M | 12M | 11M | 16M | 16M | 19M | 15M | 24M | 48M | 43M | 43M |
| Growth CapEx | 0 | 58M | 28M | 2.9M | 0 | 0 | 0 | 0 | 4.8M | 0 | 0 | 0 | 0 |
| D&A | 17M | 26M | 17M | 12M | 11M | 16M | 16M | 19M | 15M | 24M | 48M | 43M | 43M |
| CapEx/OCF | N/A | N/A | 246.7% | 2.7% | 7.3% | 13.1% | 6.8% | 2.7% | 2.9% | 11.2% | 16.9% | 8.1% | 8.1% |
| Capital Allocation | |||||||||||||
| Dividends Paid | 11M | 17M | 22M | 26M | 33M | 16M | 12M | 119M | 120M | 49M | 68M | 0 | 0 |
| Dividend Yield | 0.3% | 1.1% | 0.8% | 0.8% | 1.0% | 0.1% | N/A | 2.3% | 2.3% | 1.2% | 3.0% | N/A | N/A |
| Share Buybacks | 280K | 0 | 0 | 0 | 0 | 0 | 12M | 0 | 75M | 0 | 0 | 0 | 0 |
| Buyback Yield | 0.1% | N/A | N/A | N/A | N/A | N/A | 1.4% | N/A | N/A | N/A | 0.0% | N/A | 0.0% |
| Stock-Based Comp | 6.3M | 9.3M | 12M | 12M | 6.6M | 5.0M | 5.8M | 5.3M | 6.2M | 3.9M | 3.6M | 6.1M | 6.1M |
| Debt Repayment | 0 | 0 | 85M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | |||||||||||||
| Net Debt | -483M | -728M | -2.6B | -2.7B | -2.2B | -1.1B | -4.4B | -5.1B | -5.3B | -4.8B | -3.4B | -2.7B | -244M |
| Cash & Equiv. | 231M | 156M | 440M | 388M | 392M | 373M | 3.2B | 4.1B | 2.2B | 5.4B | 2.5B | 2.3B | 2.3B |
| Long-Term Debt | 94M | 262M | 175M | 173M | 173M | 173M | 10M | 274M | 1.8B | 2.9B | 1.4B | 2.1B | 2.1B |
| Debt/Equity | 0.19 | 0.40 | 0.25 | 0.24 | 0.18 | 0.19 | 0.00 | 0.07 | 0.45 | 0.86 | 0.40 | 0.58 | 0.58 |
| Interest Coverage | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0 |
| Equity | 503M | 652M | 980M | 1.0B | 946M | 907M | 3.6B | 4.0B | 4.0B | 3.4B | 3.5B | 3.5B | 3.5B |
| Total Assets | 6.0B | 8.2B | 11.0B | 10.3B | 10.6B | 7.8B | 7.9B | 9.4B | 41.2B | 38.5B | 33.5B | 34.8B | 34.8B |
| Total Liabilities | 5.5B | 7.6B | 10.0B | 9.3B | 9.7B | 6.9B | 7.0B | 8.3B | 37.3B | 35.1B | 30.0B | 31.3B | 31.3B |
| Intangibles | 25M | 19M | 14M | 9.4M | 6.3M | 4.2M | 2.6M | 6.4M | 31M | 165M | 133M | 105M | 105M |
| Retained Earnings | 30M | 64M | 135M | 145M | 141M | 128M | 110M | 148M | 1.4B | -518M | -431M | -242M | -242M |
| Working Capital | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Assets | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Current Liabilities | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Per Share Data | |||||||||||||
| EPS | 0.08 | 0.34 | 0.49 | 0.18 | 0.11 | 0.01 | N/A | 1.94 | 1.29 | -5.68 | 0.52 | 1.17 | 1.17 |
| Owner EPS | 1.70 | -0.52 | -0.05 | 2.64 | 0.52 | 0.03 | N/A | 1.53 | 2.16 | 0.32 | 0.15 | 1.28 | 1.28 |
| Book Value | 1.42 | 4.35 | 5.14 | 4.97 | 4.66 | 0.48 | N/A | 12.78 | 12.56 | 9.93 | 20.90 | 21.90 | 21.90 |
| Cash Flow/Share | 1.77 | -0.29 | 0.10 | 2.77 | 0.61 | 0.04 | N/A | 1.61 | 2.23 | 0.40 | 0.46 | 1.58 | 1.44 |
| Dividends/Share | 0.04 | 0.12 | 0.12 | 0.13 | 0.13 | 0.01 | 0.06 | 0.38 | 0.38 | 0.13 | 0.40 | 0.40 | 0.00 |
| Shares Out. | 354.2M | 149.9M | 190.7M | 203.6M | 203.1M | 1.9B | N/A | 312.9M | 314.6M | 341.5M | 167.5M | 161.7M | 161.7M |
| Valuation | |||||||||||||
| P/E Ratio | 9.9 | 8.8 | 7.3 | 24.7 | 25.2 | 298.2 | N/A | 19.0 | 2.7 | N/A | 29.1 | 16.8 | 18.2 |
| P/FCF | 5.1 | N/A | N/A | 6.5 | 20.2 | 406.1 | N/A | 11.6 | 6.5 | 37.2 | 39.4 | 13.6 | 14.7 |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 144.3 | N/A | N/A | N/A | 18.0 | 118.2 |
| Price/Book | 0.5 | 0.7 | 0.9 | 1.4 | 1.2 | 0.8 | 0.9 | 1.1 | 0.3 | 0.3 | 0.7 | 0.9 | 1.0 |
| Price/Sales | 0.9 | 0.9 | 2.1 | 3.8 | 5.2 | 2.5 | 2.8 | 4.0 | 0.9 | N/A | 2.3 | 2.2 | 1.9 |
| FCF Yield | 234.3% | -27.6% | -3.2% | 38.5% | 9.9% | 9.2% | 8.3% | 41.1% | 61.4% | 10.8% | 2.5% | 7.4% | 6.8% |
| Market Cap | 263M | 457M | 842M | 1.4B | 1.1B | 755M | 843M | 1.2B | 1.1B | 1.1B | 2.5B | 3.2B | 3.4B |
| Avg. Price | 8.82 | 9.84 | 14.10 | 16.49 | 15.91 | 12.68 | 10.75 | 16.62 | 16.40 | 12.30 | 13.76 | 15.35 | 21.28 |
| Year-End Price | 8.90 | 11.73 | 14.15 | 17.52 | 11.35 | 14.91 | 13.45 | 18.01 | 14.12 | 13.12 | 15.11 | 19.70 | 21.28 |
BANC OF CALIFORNIA, INC. passes 4 of 9 quality checks, suggesting mixed fundamentals.
BANC OF CALIFORNIA, INC. trades at 18.2x trailing earnings, compared to its 15-year median P/E of 19.0x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 13.6x vs a median of 13.6x. The company's 5-year average gross margin is 58.8%. Total shareholder yield (dividends) is 1.9%. At current prices, the estimated annualized return to fair value is -11.2%.
BANC OF CALIFORNIA, INC. (BANC) has a net profit margin of 10.4%. This is a healthy margin.
BANC OF CALIFORNIA, INC. (BANC) generated $235 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
BANC OF CALIFORNIA, INC. (BANC) has a debt-to-equity ratio of 0.58. This indicates moderate leverage.
BANC OF CALIFORNIA, INC. (BANC) reported earnings per share (EPS) of $1.17 in its most recent fiscal year.
BANC OF CALIFORNIA, INC. (BANC) has a return on equity (ROE) of 5.4%. This indicates moderate shareholder returns.
BANC OF CALIFORNIA, INC. (BANC) has a 5-year average gross margin of 58.8%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 17 years of financial data for BANC OF CALIFORNIA, INC. (BANC), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
BANC OF CALIFORNIA, INC. (BANC) has a book value per share of $21.90, based on its most recent annual SEC filing.